As far as the political and legal aspects are worried, the whole movie industry is affected by the danger of piracy which could potentially cause an unfavorable effect on the general revenue of the film industry. Having stated that, copyright laws offer defense to the movie market in regards to dissuading piracy.
While the political and legal environment uses defense to movie makers, globalization and advancement of technological factors have actually increased legal challenges such as ease of piracy and breaking intellectual property rights.
It should be noted that movies become part of the entertainment industry while expense on any type of entertainment is basically an optional expense which is more or a high-end instead of a necessity. However, we take a look at the comparison of the GDP trend with the pattern in demand for motion pictures, we can see that the two are not directly proportional recommending that any change in GDP development does not always cause a modification in this particular home entertainment.
As far as the social-cultural aspects are worried, it ought to be kept in mind that the 70% of IMAX audiences are in between the ages of 19 and 56 which permits a great deal of variety when it pertains to choosing a specific segment. Additionally with bulk of the viewers being college or university students with a typical household income of $70,000, the purchasing power of the target market shows possibilities of increasing viewership.
With aspects such as 'moms and dads showing an interest in their children's option of home entertainment' and 'greater buying power in families' due to both parents contributing towards the household earnings, we can see that the entertainment organisation has a great deal of potential for market gamers.
While technological aspects have actually contributed towards reducing the cost of entertainment with the introduction of multimedia, truth based entertainment, house theatres, cable networks, the pressure on theatres has increased in regard to making the theatre experience richer for customers in order to make it more appealing than viewing motion pictures at home. In addition, while developments have actually contributed towards the threat of 'piracy' they have also contributed towards ease of keeping and dispersing films.